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| Home » Industries » Banking |
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| Industries |
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| Banking |
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| The banking industry has become extremely competitive and oriented as a result of the spate of Partners and mergers.
Even as competitive pressures are increasing, driving prices and margins down, the number and scope of anti-terrorist, anti-money laundering, risk management and other regulatory requirements continues to grow, increasing the burden on administrative, operational and IT resources and driving up costs. Banks must swiftly maximize the efficiency of operations and initiatives by fine-tuning their marketing and customer relationship management strategies. |
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| The critical factor in achieving both these objectives is high quality, efficiently managed data. |
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| How can Banks benefit from Ixsight? |
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| Strategic Inputs |
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Cleanse, standardize and enrich customer data to ensure granular standardized and rich data that is an extremely valuable customer asset. |
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Enable spatial geo-coding. |
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Enable Segmentation analysis on the basis of rural urban population, city wise share, geographical and demographic segmentation |
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More effectively target cross-sell and up-sell efforts by determining expanded customer-to-customer, customer-to-product and customer-to-organization relationships |
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Provide more accurate and complete data for identifying your most profitable customers and effectively allocating marketing resources |
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| Mergers & Acquisitions/Data Migration |
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Accurately identify the number of customers common between the participating organizations in an M&A action to more finely value the acquired database. |
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Minimize the risk of integration by profiling data prior to conversion to identify data quality issues like inconsistent formats, flawed data and other errors that could lead to integration delays or failure. |
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| Service Channel Location |
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Map cleansed and de-duplicated customer information onto street maps. |
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Locate optimal locations of drop boxes. |
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Identify delinquency patterns geographically. |
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| Regulatory |
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Help the international banking industry comply with several local and transnational regulations viz., OFAC, USA PATRIOT Act, Bank of England Sanctions List, Financial Action Task Force (FATF), Common Foreign and Security Policy (CFSP), HM Treasury, EU and UN Security Council Resolutions, Customer Identification and Know Your Customer programs, Do-Not-Call, Sarbanes-Oxley, HSPD 12 and demutualization requirements. |
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In India, Ixsight helps banks meet KYC norms through the cleansing, data de-duplication and verification services. |
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| Postal Coding and Address verification |
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Verify and automatically correct customer addresses against United States, Canada and Mexico postal service records to improve the quality of your database |
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Minimize postage and production expenses related to mail communications, while ensuring that more mailing pieces actually reach your customers |
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| Identity Resolution |
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Identify the customer centrally and uniquely in terms of the entire relationship with the bank |
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Reference match with third party data |
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Credit Risk |
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Prevent frauds which occur because of a decentralized database. |
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Divine behavior patterns on default based on age or geography or income or household size. |
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